U.S. Senate housing bill includes CBDC ban

The Senate Committee on Banking, Housing and Urban Development included a provision in its bipartisan "21st Century ROAD to Housing Act" that temporarily bars the Federal Reserve from issuing a central bank digital currency (CBDC) until 2031. The bill, introduced by Chairman Tim Scott and Ranking Member Elizabeth Warren, aims to ease housing construction by cutting red tape and lowering costs. While neither lawmaker highlighted the CBDC ban, which is contained in just two pages of the 303-page bill, the provision explicitly prohibits the Fed from creating a CBDC or substantially similar digital asset, with a sunset date of December 31, 2030. It carves out an exception for private, permissionless, dollar-denominated currencies that maintain physical currency privacy protections. The White House issued a statement supporting the bill, specifically endorsing the CBDC provision due to concerns it could pose threats to personal privacy and liberty.

(Source：CoinDesk)